Drilling At Tabakorole JV Project Continues To Show Promise
Altus Strategies Plc (AIM: ALS, TSXV: ALTS, OTCQX: ALTUF) has obtained further encouraging drilling results from its Joint Venture (JV) at the Tabakorole gold project located in southern Mali.
Altus holds a 49% equity interest and 2.5% Net Smelter Return (NSR) royalty on the Project. Exploration activities at Tabakorole are being funded by Marvel Gold Limited under its JV with Altus.
Highlights:
- Further encouraging drilling results from the Tabakorole gold project in southern Mali
- Results from five diamond drill (DD) holes (totalling 997m) from the central zone
- Multiple shallow intersections outside of the mineral deposit for which a Mineral Resource Estimate (MRE) has been modelled
- Intersections include (not true width of intervals):
- 2.6 g/t gold over 21m from 70m;
- 1.3 g/t over 9m from 8m; and
- 1.9 g/t over 8m from 80m
- Further results pending from seven DD holes (totalling 1,115m) in the north-west zone
- Tabakorole hosts a MRE (see Altus’ news release “Substantial Increase in Gold Resource at Tabakorole Project, Southern Mali” dated 30 September 2020), comprising:
- 16,600,000 tonnes at 1.2 g/t Au for 620,000 ounces in the Inferred category
- 7,300,000 tonnes at 1.2 g/t Au for 290,000 ounces in the Indicated category
- Upgraded MRE for Tabakorole expected to be prepared in September 2021
- Altus holds 49% of the Project and a 2.5% NSR royalty on Tabakorole gold production
Chief Executive, Steven Poulton, said the results are expected to increase the volume and grade of the resource in the central zone.
“Further encouraging drilling results have been received from the Tabakorole gold project in southern Mali. Of particular significance, is the continued shallow and higher grade intersections from the central zone of the deposit,” Mr Poulton said.
“Marvel Gold, our ASX-listed JV partner, is aggressively advancing Tabakorole through a number of drilling programmes which are expected to contribute to an updated mineral resource estimate in late September. We look forward to updating shareholders with further drilling results as they are received.”
In early 2021, Marvel completed 5,400m of Reverse Circulation drilling and 900m of DD designed to expand the current MRE. These programmes successfully extended the strike length of the Tabakorole deposit to approximately 3.2km.
Marvel has recently completed a further 3,240m of DD to follow up on the encouraging results from the central zone and improve the understanding of the north-west zone. Drill results have been received for the final 997m of drilling in the central zone as set out in Table 1, with the best new intercept being 2.6 g/t Au over 21m from 70m (hole 21TBKDD014). These results have exceeded the previous results from this area and which form part of the current MRE.
In addition, a number of holes in the central zone intersected shallow, higher-grade mineralisation which sits outside the current MRE.
Results are currently pending from 7 DD holes (totalling 1,115m) in the north-west zone, where (as previously reported by the Company) drilling by Marvel intersected 2.0 g/t Au over 16m from 75m and 5.8 g/t Au over 6m from 61m.
The combined 9,745m of RC/DD undertaken by Marvel in 2021 will feed into an updated resource statement (in accordance with the JORC code), which is expected to be completed in late September 2021.
For further information please visit: https://www.altus-strategies.com/
